Bridgewater Associates LP Purchases 94,765 Shares of Onsemi (NASDAQ:ON)

Bridgewater Associates LP boosted its holdings in shares of Onsemi (NASDAQ:ONFree Report) by 27.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 434,348 shares of the semiconductor company’s stock after buying an additional 94,765 shares during the period. Bridgewater Associates LP’s holdings in Onsemi were worth $36,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of ON. Provence Wealth Management Group purchased a new stake in Onsemi during the 3rd quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Onsemi in the fourth quarter valued at approximately $32,000. MeadowBrook Investment Advisors LLC acquired a new position in Onsemi in the 4th quarter worth approximately $33,000. Private Wealth Management Group LLC purchased a new position in Onsemi during the 4th quarter worth approximately $33,000. Finally, Hanseatic Management Services Inc. acquired a new stake in Onsemi during the 3rd quarter valued at approximately $38,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Onsemi

In related news, Director Paul Anthony Mascarenas sold 911 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the sale, the director now owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Stifel Nicolaus reduced their target price on shares of Onsemi from $82.00 to $72.00 and set a “hold” rating for the company in a report on Thursday, April 18th. KeyCorp lowered their target price on Onsemi from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. Evercore ISI assumed coverage on Onsemi in a report on Tuesday, April 16th. They set an “outperform” rating and a $104.00 target price on the stock. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, Morgan Stanley dropped their price objective on shares of Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.28.

Read Our Latest Stock Report on ON

Onsemi Price Performance

Shares of NASDAQ:ON traded down $1.13 during trading on Tuesday, reaching $72.37. The stock had a trading volume of 304,967 shares, compared to its average volume of 6,982,641. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.87. Onsemi has a 1-year low of $59.34 and a 1-year high of $111.35. The stock has a market cap of $31.14 billion, a PE ratio of 15.00, a PEG ratio of 3.29 and a beta of 1.71. The business has a fifty day moving average price of $70.07 and a 200-day moving average price of $74.66.

Onsemi (NASDAQ:ONGet Free Report) last announced its earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.04. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.19 EPS. On average, equities analysts forecast that Onsemi will post 3.83 earnings per share for the current fiscal year.

Onsemi Company Profile

(Free Report)

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.

See Also

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Institutional Ownership by Quarter for Onsemi (NASDAQ:ON)

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